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Pre-Approval

A pre-approval for a house is a process that helps you determine how much money you can borrow from a lender to purchase a home. It is different from a pre-qualification, which is simply an estimate of how much you might be able to borrow based on the information you provide.

To get pre-approved for a house, you will need to complete a mortgage application and provide the lender with documentation such as income verification, credit score, and employment history. The lender will use this information to determine how much they are willing to lend you.

Getting pre-approved for a house can be beneficial in several ways. First, it gives you a clear idea of your budget and what you can afford. This can help you narrow down your search and focus on properties that fit your financial situation. Additionally, pre-approval can make you a more attractive buyer to sellers, as it shows that you are serious about buying a home and have taken steps to secure financing.

It's important to note that a pre-approval is not a guarantee of a loan, and it doesn't lock in an interest rate. However, it is a useful tool in the homebuying process that can help you feel more confident and prepared.

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Cristina Osborne

Loan Officer

NMLS ID# 53489 | Licensed In: NC

Cristina Osborne
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Johan Alvarez
Loan Officer

NMLS ID# 53489 | Licensed In: NC

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Patricia Acosta
Loan Officer

NMLS #1352203 | Licensed In: NC

Patricia Acosta
Crosscountry mortgage
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Oscar Saavedra
Loan Officer

NMLS ID# 754624 | Licensed In: NC

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Build Your Green File

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

  • Financial statements

  • Bank accounts

  • Investments

  • Credit cards

  • Auto loans

  • Recent pay stubs

  • Tax returns for two years

  • Copies of leases for investment properties

  • 401K statements, life insurance, stocks, bonds, and mutual account information

Be Careful With Your Finances.

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.

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